In other words, it is an implied promise that the goods are fit to be sold. The implied warranty of merchantability is a merchant's basic promise that the goods sold will do what they are supposed to do and that there is nothing significantly wrong with them. They are the implied warranty of merchantability and the implied warranty of fitness for a particular purpose. Implied warranties are based upon the common law principle of "fair value for money spent," There are two types of implied warranties that occur in consumer product transactions. Implied warranties are unspoken, unwritten promises, created by state law, that go from you, as a seller or merchant, to your customers. The law recognizes two basic kinds of warranties-implied warranties and express warranties.
It is a statement about the integrity of your product and about your commitment to correct problems when your product fails. Generally, a warranty is your promise, as a warrantor, to stand behind your product.
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The names of the companies in the examples in this manual are fictitious any resemblance between them and the names of actual companies is completely coincidental.
The manual is intended as a tool for you to use in consultation with your attorney, not as a substitute for your attorney's advice. However, because state law varies, you may need to contact a private attorney or the offices of the attorneys general in the states where you do business to get specific state law information. This manual also addresses some basic points of state law that you need to know to understand the requirements and prohibitions of the Magnuson-Moss Act. For reference purposes, a supplement to this manual containing the Act, the Rules, and the Guides is available from the FTC's Consumer Response Center. The text provides citations to specific sections of the law-the Warranty Act itself, the Rules the Federal Trade Commission (FTC) adopted under the Act, and the FTC's Warranty Advertising Guides. This manual is intended as a businessperson's guide to the basic features of the Magnuson-Moss Warranty Act, the federal law governing warranties on consumer products. Disclaimer or Limitation of Implied Warranties.The Magnuson-Moss Warranty Act, Section 106.
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How to Advertise a Lifetime Warranty or Guarantee.How to Advertise a Satisfaction Guarantee.How to Advertise Warranties Covered by the Pre-Sale Availability Rule.What Door-to-Door Sales Companies Must Do.Making Warranties Available Prior to Sale
REQUIREMENT III: The FTC's Pre-Sale Availability Rule, 16 C.F.R.
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Examples of Full Warranties, Limited Warranties, and Multiple Warranties.What the Terms "Full" and "Limited" Mean.Titling Written Warranties as "Full" or "Limited" REQUIREMENT I: The Magnuson-Moss Warranty Act, Section 102. The FTC's Dispute Resolution Rule, 16 C.F.R. How the Magnuson-Moss Act May Affect Warranty Disputes.Disclaimer or Modification of Implied Warranties.What the Magnuson-Moss Act Does Not Allow.What the Magnuson-Moss Act Does Not Require.Understanding the Magnuson-Moss Warranty Act Section 2-313.įor the full legal texts listed below, consult the supplement to this manual. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Competition and Consumer Protection Guidance Documents.Enforcement Show/hide Enforcement menu items.
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